Nothing to do with the NHL. The NHL doesn't decide who the team gets sold to.
actually they do
The NHL and the other owners vote on whether a team can change owners
it is happened four times in the past 10 years that someone tried to buy a team and the nhl let the new guy know he did not have the votes to buy the team.
It may sound silly with a guy like Wang running the NYI into the ground that the nhl has standards
one of the guys that was told not to bother was being openly investigated for being involved drug dealing on the grand scale.
Another guy who wanted to buy a team was asked by the nhl to put foward a business plan---the plan hinged on him getting tax breaks and loans to cover him buying the team--he was also sent on his way